Gazprom Neft to exit Serbian NIS

Russian company Gazprom Neft must exit the Serbian oil company NIS within 45 days. This requirement is linked to the sanctions imposed by the US. Serbian President Aleksandar Vučić provided this information, Reuters reports.

Vučić clarified that the US side is insisting on a full exit of Russian shareholders from NIS, rather than a partial reduction of their stake.

«Они требуют полного ухода россиян из NIS. Это не сокращение доли, а именно выход» (They are demanding a full exit of Russians from NIS. This is not a reduction of the stake, but specifically an exit), he stated. The President also noted that Serbia needs to resolve this issue with its Russian partners by 10 March. Any transaction related to the implementation of this requirement is subject to approval by the US Office of Foreign Assets Control.

Currently, the controlling stake in NIS is distributed as follows: 50% is owned by Gazprom Neft, and a further 6.15% by Gazprom. The Serbian government holds 29.87% of the shares, with the remainder belonging to minority shareholders.

This situation could have a significant impact on Serbia's energy sector, as the Russian company plays a key role in the management of NIS and the supply of energy resources.